1116 Fairvilla Dr #1116 · New Smyrna Beach, FL 32168

$174,500

2 bd · 2.0 ba · 810 sqft · Condo · 20 Days on market

Built 1985 $260/mo HOA · 13% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +5.6/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit.

Key facts

• Full renovation
• $260 HOA
• Built 1985

Tags

• FULL RENOVATION
• INCOME-PRODUCING POTENTIAL
• CUSTOMIZE EVERY DETAIL

Property features AI

Finance

• Other: Property condition listed as fixer; Zoning: 10R4; Development: Fairgreen Square; Third-party listing; Directions: Turnbull to Fairway to Fairvilla
• Financial info: Condo fees $130 monthly; Total monthly fees $260; Total annual fees $3,120; Lease restrictions apply
• HOA & community: HOA: Fairgreen Square; Monthly association fee $130 (includes none); Association approval required; Pets allowed

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential condominium; One story; Faces northeast; Entry on floor 1
• Construction: Shingle roof; Other construction materials; Slab foundation; Building/Unit number 1116
• Exterior features: Asphalt road access; Lot dimensions approximately 24 x 34

Interior

• Kitchen: Appliances: Other
• Bedrooms: 2 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior features listed; 5 total rooms
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $174k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#474 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• Volusia (suburban): math 44% / reading 49% proficiency, ranked #47 of 73 in FL (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.6%/yr); 601 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $82k; list at $174k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,882 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.16
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-13,587
• Equity at exit: $26,019

10-year hold

• IRR: 5.8%
• Equity multiple: 1.50×
• Total profit: $24,220
• Equity at exit: $15,088

Cash invested: $48,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32168

• Home prices YoY: -27.0%
• Rents YoY: 5.6%
• Active inventory: 601
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,035 high
• Mortgage (P&I): −$915
• Tax est. 1.5%: −$218 /mo · $2,618/yr
• Insurance: −$73
• HOA: −$260
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $142

Break-even live

Break-even rent $1,856

Max offer price $174,500

Occupancy floor 88%

Sensitivity live

Price	-10% $262	-5% $202	+0% $142	+5% $82	+10% $21
Rent	-10% $-19	-5% $61	+0% $142	+5% $222	+10% $303
Rate	-1.0pp $230	-0.5pp $186	base $142	+0.5pp $97	+1.0pp $51

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Birdie Dr New Smyrna Beach, FL	2.0	2.0	1046	$2,600	$2.49	24d	1	0.29mi
14 Birdie Dr New Smyrna Beach, FL	2.0	2.0	1060	$1,775	$1.67	24d	1	0.32mi
1054 Claudia St New Smyrna Beach, FL	2.0	2.0	1005	$1,750	$1.74	24d	1	0.34mi
324 N Orange St Unit 1 New Smyrna Beach, FL	1.0	1.0	697	$1,300	$1.87	24d	1	1.23mi
159 Breezeway Ct #159 New Smyrna Beach, FL	2.0	2.0	967	$2,900	$3.00	24d	1	1.47mi
200 Robert St New Smyrna Beach, FL	1.0	1.0	620	$1,310	$2.11	24d	1	1.47mi
110 Rush St New Smyrna Beach, FL	1.0	1.0	700	$1,300	$1.86	15d	1	1.49mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $174,500 Active 20 DOM
2. 2026-06-17
   days on market $174,500 Active 19 DOM
3. 2026-06-16
   days on market $174,500 Active 18 DOM
4. 2026-06-15
   days on market $174,500 Active 17 DOM
5. 2026-06-14
   days on market $174,500 Active 15 DOM
6. 2026-06-10
   days on market $174,500 Active 12 DOM
7. 2026-06-09
   days on market $174,500 Active 11 DOM
8. 2026-06-08
   days on market $174,500 Active 10 DOM
9. 2026-06-07
   days on market $174,500 Active 9 DOM
10. 2026-06-05
    days on market $174,500 Active 6 DOM
11. 2026-06-03
    days on market $174,500 Active 5 DOM
12. 2026-06-02
    days on market $174,500 Active 4 DOM
13. 2026-06-01
    days on market $174,500 Active 3 DOM
14. 2026-05-31
    days on market $174,500 Active 2 DOM
15. 2026-05-29
    listed $174,500 Active
16. 2015-12-15
    soldstatus $82,000 Closed 248-char remark

    Show marketing remark (261 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit. ;Water: City

17. 2015-12-15
    soldstatus $82,000 261-char remark

    Show marketing remark (261 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit. ;Water: City

18. 2015-11-27
    historical Contingent 248-char remark

    Show marketing remark (248 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit.

19. 2015-10-13
    historical 248-char remark

    Show marketing remark (248 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit.

20. 2015-07-21
    listed $92,900 Active 248-char remark

    Show marketing remark (248 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit.

21. 2014-10-08
    listed $92,900 261-char remark

    Show marketing remark (261 chars)

    Don't let this pass. 2/2 that has several updates. Fully furnished and ready to move in. Just down the street from Hiddden Lakes Golf Course. Just bring your toothbrush and clothes. Split bedroom plan and back porch with a separate window A/C unit. ;Water: City

22. 2001-02-28
    soldstatus $62,700
23. 2001-02-28
    soldstatus $62,700
24. 1998-09-17
    listed $63,900
25. 1998-09-17
    listed $63,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 48% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,422
• − Mortgage interest: −$9,775
• − Property taxes: −$2,618
• − Insurance: −$872
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − HOA: −$3,120
• − Depreciation: −$5,076
• Taxable loss: −$946
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $1,930/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Volusia
• NCES district ID: 1201920
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $42,946
• Composite: 39.2/100
• National rank: #4019
• State rank: #47 of 73 in FL

Livability — New Smyrna Beach

• Score: 69/100
• State rank: #474
• US rank: #8577

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment B Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Smyrna Beach, FL
• County: Volusia County · 556,871 people
• City population: 42,039
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 31,847
• Household income: $77,083
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1139.0

Population outlook (Volusia County) Hauer SSP2

• Today (2025): 572,749 people
• By 2030: 598,695 · +4.5%
• By 2040: 644,880 · +12.6%
• By 2050: 681,451 · +19.0%
• By 2075: 759,957 · +32.7%
• By 2100: 778,902 · +36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Volusia

• 2024 margin: Strong R (+21.8) · D 38.7% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.7pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+14.1 2016: R+13.1 2012: R+1.2 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.58%
• Current HPI: 350.4259
• Rent YoY: ▲ 5.60%
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+173.1% since first listed

11 events — show timeline

• 2026-05-29 Listed $174,500 Stellar MLS as Distributed by MLS Grid
• 2015-12-15 Sold (MLS) $82,000 Stellar MLS as Distributed by MLS Grid
• 2015-12-15 Sold (MLS) $82,000 NSBMLS
• 2015-11-27 Contingent — NSBMLS
• 2015-10-13 Delisted — NSBMLS
• 2015-07-21 Listed $92,900 NSBMLS
• 2014-10-08 Listed $92,900 Stellar MLS as Distributed by MLS Grid
• 2001-02-28 Sold (MLS) $62,700 Stellar MLS as Distributed by MLS Grid
• 2001-02-28 Sold (MLS) $62,700 NSBMLS
• 1998-09-17 Listed $63,900 Stellar MLS as Distributed by MLS Grid
• 1998-09-17 Listed $63,900 NSBMLS